ForexGen Trading Currencies

US Dollar Mostly Down in European Trading

Mon, 29 Dec 2008 23:54:17 GMT

US dollar mostly down, gold higher in European afternoon tradingThe U.S. dollar was mostly lower against other major currencies in European trading Monday afternoon. Gold rose.The euro traded at $1.4205, up from $1.4067 late Friday in New York.Other dollar rates:--90.21 Japanese yen, down from 90.38--1.0438 Swiss francs, down from 1.0675--1.2163 Canadian dollars, down from 1.2221The British pound was... [read more]

Euro Forecast Roughly Unclear on Indecisive Crowd Trading

Sun, 28 Dec 2008 22:47:34 GMT

EUR/USD ratio: -1.06 Trading Forecast: Bullish EURUSD – The ratio of long to short positions in the EURUSD stands at -1.06 as nearly 51% of traders are short. Yesterday, the ratio was at -1.08 as 52% of open positions were short. In detail, long positions are 19.2% higher than yesterday and 17.2% stronger since last week. Short positions are 16.7% higher than yesterday and... [read more]

Currencies Come in Pairs

Fri, 26 Dec 2008 01:09:50 GMT

To make matters easier, forex markets refer to trading currencies by pairs, with names that combine the two different currencies being traded, or “exchanged,” against each other. Additionally, forex markets have given most currency pairs nicknames or abbreviations, which reference the pair and not necessarily the individual currencies involved. [ForexGen Money Manager] An individual... [read more]

Short-Term Forex Technical Outlook: GBP/JPY

Thu, 25 Dec 2008 00:20:44 GMT

Risk aversion paired with narrowing demands for carry trades pushed the GBPJPY to its lowest level in over a decade, and the downward trend is likely to hold as we head into the New Year as investors continue to curb their appetite for risk. Currency Pair: GBP/JPY Chart: 60 Min Charts Short-Term Bias: Bearish Analysis Risk aversion paired with narrowing demands for carry trades pushed the GBPJPY... [read more]

USD/CAD: Trading the Canadian GDP Release

Tue, 23 Dec 2008 21:37:32 GMT

The Canadian dollar could face increase selling pressures over the next 24 hours of trading as market participants forecast GDP to contract 0.3% in October. Growth prospects for the world’s eighth largest economy have weakened considerably throughout the fourth quarter as firms cutback on employment and reduced spending. Trading the News: Canadian Gross Domestic Product What’s Expected... [read more]

Missouri Gov.-elect Nixon Outlines Economic Plan

Tue, 23 Dec 2008 00:18:29 GMT

Missouri Gov.-elect Nixon outlines plan to create jobs, support small business growth Missouri Gov.-elect Jay Nixon on Monday outlined his plan to create jobs and support the growth of small businesses. Nixon released details of his Show Me JOBS economic plan during a stop in Kansas City. He also planned an appearance later Monday at St. Louis Community College at Florissant Valley. Nixon,... [read more]

Canada Unveils Plan to Help Auto Industry

Mon, 22 Dec 2008 01:03:39 GMT

Canada will follow the United States by providing C$4 billion ($3.3 billion) in emergency loans to the Canadian arms of Detroit's ailing automakers to keep them operating while they restructure their businesses, Prime Minister Stephen Harper said on Saturday. The package, announced by Harper and Ontario Premier Dalton McGuinty, comes a day after the White House unveiled a $17.4 billion package... [read more]

Michigan Housing Leaders Call on Congress to Help Main Street

Fri, 19 Dec 2008 01:06:44 GMT

The Michigan housing industry called on Congress today to address the housing crisis that is at the root of the nation’s recession. Bob Filka, CEO of the Michigan Home Builders Association; Jim Haeussler, president of Peters Building Co.; and Tom Barber, president of Barber Construction Inc., urged Congress to enact bold measures that will stimulate the housing market and, in turn, revive the... [read more]

The Destination and Fundamentals of Technical Analysis

Thu, 18 Dec 2008 00:08:01 GMT

Technical analysis is being used for the prediction of market movements (that is alterations in currencies prices, volumes and open interests) outgoing from the information obtained for the past. The main instruments of the technical analysis are different kinds of charts, which represent currencies price change during a certain time preceding exchange deals, as well as technical indicators.... [read more]

Euro Pushes Higher Ahead of Busy Economic Calendar

Tue, 16 Dec 2008 23:32:22 GMT

Euro Pushes Higher Ahead of Busy Economic Calendar, US Fed Rate Decision (Euro Open)The Euro continued to push higher against the US dollar in overnight trading, breaching beyond the 1.37 level. Japanese service demand unexpectedly rose in October, while minutes from the last RBA reinforced expectations of a likely pause in rate cuts. Forex traders face economic data overkill in European trading... [read more]